Skip to main content
  • This website sets cookies on your device. To find out more about how we use cookies please refer to our Privacy and Cookie Policy. By continuing to use the site, we’ll assume that you are content for us to set these on your device.
  • Close
Home > News and Publications > News Release - Target Two Point Zero results for 27 November 2015
 

News Release - Target Two Point Zero results for 27 November 2015

27 November 2015

Target Two Point ZeroAvailable as: PDF

The sixteenth annual Target Two Point Zero – Bank of England and The Times Interest Rate Challenge is now underway, with 297 teams across the United Kingdom competing for the Challenge Trophy and £5,000 for their school or college.

During the 42 regional heats, teams of four students, aged 16 to 18, will analyse UK and global economic data and their possible impact on inflation and the economic outlook for the UK - just as the Bank of England Monetary Policy Committee does each month. The team must then decide if current monetary policy is appropriate or needs to be adjusted, to meet the 2.0 per cent inflation target set by the Government.  In a presentation to a panel of Bank of England judges the team explains their decision then justifies it through their answers to questions from the panel.  The winning team from each regional heat goes on to one of the six area finals to be held in March 2016, with the national final to be held in March at the Bank of England in London.

Birmingham | Edinburgh | London | Maidstone | Reading

Regional heats results for Birmingham

The team from King Edward VI College, Stourbridge won the regional heat held at the Aston Business School Conference Centre on 27 November 2015.  They recommended an interest rate of 0.75% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 5 November 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 November 2015.

The team from King Edward VI Camp Hill School for Boys, Birmingham were runners up.  The other schools in the heat were:  Bromsgrove School, King Edward VI Five Ways School, Birmingham, Old Swinford Hospital, Stourbridge, Royal Grammar School, Worcester, Wolverhampton Grammar School and Wrekin College, Telford.

The chair of the judging panel, Graeme Chaplin, said “A closely fought competition with some enthusiastic and thoughtful contributions”.

Regional heats results for Edinburgh

The team from Strathallan School, Perth won the regional heat held at the Hilton Edinburgh Grosvenor Hotel on 27 November 2015.  They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 5 November 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 November 2015.

The team from Merchiston Castle School, Edinburgh were runners up.  The other schools in the heat were:  George Heriot’s School, Edinburgh, George Watson’s College, Edinburgh, Hutchesons’ Grammar School, Glasgow, Robert Gordon’s College, Aberdeen and Stewart’s Melville College, Edinburgh.

The chair of the judging panel, Will Dowson, said “We saw some excellent presentations today.   All contained well considered thoughts on the outlook for the UK economy.   All teams should be proud of their efforts as it was tough to pick an overall winner.”.

Regional heats results for London

The team from St Olave’s Grammar School, Orpington won the regional heat held at the Prudential Regulation Authority on 27 November 2015.  They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 5 November 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 November 2015.

The team from Wallington County Grammar School were runners up.  The other schools in the heat were:  Haydon School, Pinner, Heston Community School, Hounslow and The Petchey Academy, Hackney.

The chair of the judging panel, Peter Andrews, said “All the schools have put in a great deal of work to cover the key components of demand, costs and inflation.  Good to see recent changes in government spending and international events factored in”.

Regional heats results for Maidstone

The team from Sir Joseph Williamson’s Mathematical School, Rochester won the regional heat held at the Village Urban Resort Maidstone on 27 November 2015.  They recommended an interest rate of 0.75% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 5 November 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 November 2015.

The team from Cranbrook School were runners up.  The other schools in the heat were:  Gravesend Grammar School, Oakwood Park Grammar School, Maidstone, Simon Langton Grammar School for Boys, Canterbury and The Rochester Grammar School for Girls.

The chair of the judging panel, Phil Eckersley, said “A tight contest with a range of policy decisions”.

Regional heats results for Reading

The team from Herschel Grammar School, Slough won the regional heat held at the Hilton Reading Hotel on 27 November 2015.  They recommended an interest rate of 0.5% compared with the Bank of England’s official rate of 0.5% set by the Monetary Policy Committee on 5 November 2015. They also recommended a total of £375bn of asset purchases under the Asset Purchase Facility, compared with the £375bn agreed by the MPC on 5 November 2015.

The team from The Holt School, Wokingham were runners up.  The other schools in the heat were:  Cox Green School, Maidenhead, Forest School, Wokingham, Highdown School and Sixth Form Centre, Reading, Pangbourne College, Reading and Upton Court Grammar School, Slough.

The chair of the judging panel, Andrew Holder, said “Well done to all the teams for a stimulating conclusion to the first round of this year’s competition, including a really interesting range of policy proposals”.

If you would like to take a photograph of the team(s) from your area or would like to interview team members, please call the Bank of England Press Office on 020 7601 4411 for contact details.

 For further Challenge information see Target Two Point Zero.
Share